Flint Corporation has issued 109,000 shares of $4 par value common stock. It was

Question

Flint Corporation has issued 109,000 shares of $4 par value common stock. It was authorized 501,000 shares. The paid-in capital in excess of par value on the common stock is $276,000. The corporation has reacquired 6,300 shares at a cost of $48,000 and is currently holding those shares. It also had accumulated other comprehensive income of $64,000.

The corporation also has 1,000 shares issued and outstanding of 7%, $102 par value preferred stock. It authorized 9,900 shares. The paid-in capital in excess of par value on the preferred stock is $31,000. Retained earnings is $364,000.

Prepare the stockholders’ equity section of the balance sheet. (Enter account name only and do not provide descriptive information.)

FLINT CORPORATION
Balance Sheet (Partial)

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FLINT CORPORATION
Balance Sheet (Partial)

Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Stockholders’ EquityTotal Additional Paid-in CapitalTotal Paid-in Capital and Retained Earnings

Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Stockholders’ EquityTotal Additional Paid-in CapitalTotal Paid-in Capital and Retained Earnings

Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Stockholders’ EquityTotal Additional Paid-in CapitalTotal Paid-in Capital and Retained Earnings

$

    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Stockholders’ Equity    Total Additional Paid-in Capital    Total Paid-in Capital and Retained Earnings    

$

Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Stockholders’ EquityTotal Additional Paid-in CapitalTotal Paid-in Capital and Retained Earnings

    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Stockholders’ Equity    Total Additional Paid-in Capital    Total Paid-in Capital and Retained Earnings    

    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Stockholders’ Equity    Total Additional Paid-in Capital    Total Paid-in Capital and Retained Earnings    

    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Stockholders’ Equity    Total Additional Paid-in Capital    Total Paid-in Capital and Retained Earnings    

AddLess

:

    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Stockholders’ Equity    Total Additional Paid-in Capital    Total Paid-in Capital and Retained Earnings    

$

Explanation / Answer

FLINT CORPORATION Balance Sheet (Partial) Stockholders' Equity Paid-in Capital Capital stock Preferred stock 102000 Common stock 436000 Total Capital stock 538000 Additional paid-in capital Paid-in Capital in excess of par-preferred stock 31000 Paid-in Capital in excess of par-common stock 276000 Total additional paid-in capital 307000 Total paid-in capital 845000 Retained earnings 364000 Less: Treasury stock -48000 Total paid-in capital and retained earnings 1161000 Add: Accumulated other comprehensive income 64000 Total Stockholders' equity 1225000

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